Steel production in the country will continue to grow by almost 7 per cent in 2016, according to Platts.
The statement comes in the wake of latest data by World Steel Association (WSA) which shows India is the only country among major steel producing nations such as China, Japan, South Korea and the US, that witnessed growth in production in 2015. Production in the world’s third largest steel producer — India — rose by 2.6 per cent to 89.6 million tonnes (MT) in 2015 as against 87.3 MT in 2014, according to WSA data. “In 2015, out of the 10 largest steel production countries in the world, nine saw production cuts, the exception was India. In 2016, we continue to see Indian steel production growing by almost 7 per cent,” Editor-in-Chief, Platts Steel Business Briefing, Henry Cooke said today.